It seems to be a good moment to send money to India if you live in the USA like I do.
The main reason for this is Donald Trump’s victory in the US elections.The depreciation of Rupee in the past week can only be partially credited to the demonetization.
The main reason for this is Donald Trump’s victory in the US elections.The depreciation of Rupee in the past week can only be partially credited to the demonetization.
Soon
after victory of Trump, there was a rally in US equities sending Dow
Jones to an all time high. Moreover, the retail sales also came out
positive and now investors are expecting a rate hike in Federal
Reserve’s December meeting. As a result, dollar is appreciating.
It’s
not only rupees which is depreciating, other Asian currencies are also
depreciating at the same time which shows that demonetization might not
be the main reason for the depreciation of rupees.
